Target Increases Data Breach Numbers

Originally, Target estimated that 40 million credit and debit card accounts were affected in a data breach that occurred from November 27 through December 15. Those estimates are now being regarded as an understatement, as Target has today released information from the hacking investigation stating that 70 million customers were affected. Target has also informed the public that not only was information from credit and debit card accounts taken, customer information such as email addresses, names, mailing addresses, and phone numbers were compromised as well. Chairman, President, and Chief Executive Officer of Target, Gregg Steinhafel, released a statement where he provided an apology for having customers endure the data breach situation.

Although Target has not released information concerning the cost to the company due to the data breach, it has lowered its 2013 fourth quarter earning guidance. Target will also be providing all guests who shopped at United States stores one year of free credit monitoring and identity theft protection.